Scotia Capital Inc. increased its stake in GlaxoSmithKline plc (NYSE:GSK) by 31.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,986 shares of the pharmaceutical company’s stock after buying an additional 17,043 shares during the quarter. Scotia Capital Inc.’s holdings in GlaxoSmithKline were worth $2,881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in GlaxoSmithKline by 6.9% in the 2nd quarter. Renaissance Technologies LLC now owns 15,261,781 shares of the pharmaceutical company’s stock valued at $610,776,000 after acquiring an additional 989,181 shares during the period. Equity Investment Corp increased its position in GlaxoSmithKline by 3.9% during the 1st quarter. Equity Investment Corp now owns 2,776,791 shares of the pharmaceutical company’s stock worth $116,042,000 after buying an additional 105,044 shares during the period. Parametric Portfolio Associates LLC increased its position in GlaxoSmithKline by 4.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 2,765,250 shares of the pharmaceutical company’s stock worth $115,560,000 after buying an additional 107,713 shares during the period. Brandes Investment Partners LP increased its position in GlaxoSmithKline by 2.1% during the 1st quarter. Brandes Investment Partners LP now owns 2,085,398 shares of the pharmaceutical company’s stock worth $87,149,000 after buying an additional 42,656 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in GlaxoSmithKline by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,769,859 shares of the pharmaceutical company’s stock worth $67,626,000 after buying an additional 88,148 shares during the period. 11.16% of the stock is owned by institutional investors.

Get GlaxoSmithKline alerts:

In other GlaxoSmithKline news, Director Plc Glaxosmithkline acquired 333,333 shares of GlaxoSmithKline stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average cost of $15.00 per share, with a total value of $4,999,995.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.00% of the company’s stock.

Several research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating on shares of GlaxoSmithKline in a research report on Thursday, August 29th. ValuEngine cut GlaxoSmithKline from a “hold” rating to a “sell” rating in a research report on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a research report on Tuesday, August 13th. Societe Generale upgraded GlaxoSmithKline from a “sell” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley restated an “underweight” rating on shares of GlaxoSmithKline in a research report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $41.79.

NYSE:GSK traded down $0.18 during trading hours on Friday, hitting $40.85. The company’s stock had a trading volume of 77,357 shares, compared to its average volume of 2,031,593. The stock has a fifty day simple moving average of $41.15 and a 200-day simple moving average of $40.58. The company has a market capitalization of $102.21 billion, a P/E ratio of 12.93, a PEG ratio of 1.96 and a beta of 0.70. The company has a debt-to-equity ratio of 7.86, a current ratio of 0.71 and a quick ratio of 0.48. GlaxoSmithKline plc has a twelve month low of $36.41 and a twelve month high of $42.49.

GlaxoSmithKline (NYSE:GSK) last released its quarterly earnings data on Wednesday, July 24th. The pharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.14. The business had revenue of $10.04 billion for the quarter, compared to analyst estimates of $9.55 billion. GlaxoSmithKline had a return on equity of 175.45% and a net margin of 13.84%. On average, equities analysts predict that GlaxoSmithKline plc will post 2.96 EPS for the current fiscal year.

GlaxoSmithKline Company Profile

GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.